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Gold CEO Bristow lashes out against his industry
But has he ever addressed gold price suppression by central banks intervening surreptitiously in the markets?
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By Danielle Bochova
Friday, November 24, 2017
A gold industry obsessed with containing costs and minimizing risks will find itself at the edge of a cliff by 2020 as supply tightens, according to one of the most profitable producers.
Despite prices recovering from 2015 lows, the industry has been slow to reinvest in exploration or sustaining capital, Randgold Resources Ltd. Chief Executive Officer Mark Bristow said. Half the gold coming out of the ground isn't profitable to mine based on the true extraction costs, he said.
"The one thing this industry does very well is mine gold at a loss," Bristow told analysts at a breakfast meeting in Toronto today.
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Gold Standard Ventures Infill Drilling Could Increase
Size and Grade of Pinion Oxide Gold Deposit in Carlin Trend
Tuesday, November 21, 2017
VANCOUVER, British Columbia -- Gold Standard Ventures Corp. (TSX: GSV; NYSE:GSV) today announced results from 11 of 19 completed reverse-circulation and core holes at the Pinion oxide gold deposit on its ully owned and controlled Railroad Project in Nevada's Carlin Trend.
These drill holes are a portion of Gold Standard’s 2017 US$15.5 million program, which includes up to 48,800 meters of reverse-circulation and core drilling in 117 holes.
The Pinion drilling was designed to 1) upgrade and potentially add to resources by reducing drill spacing in critical portions of the deposit and 2) expand drill coverage near the margins of the current pit design for possible resource additions.
All 11 drill holes intersected oxidized and altered multi-lithic dissolution collapse breccia, the principal Pinion host rock, and seven of the holes returned significant, higher-grade intercepts greater than 1 gram of gold per tonne. Results include 56.4 meters of 1.68 gram per tonne in PIN17-02, 42.7 meters of 1.23 gram per tonne in PIN17-10, 15.2 meters of 1.66 gram per tonne in PIN17-04, and 32 meters of 0.89 grams per tonne in PIN17-05. In most instances the new results either confirm or outperform the expectations in the current resource estimate block model. ...
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